Madhya Pradesh Launches New Startup Policy | 16 May 2022

Madhya Pradesh's new startup policy was launched through virtual medium at the Startup Conclave organized by Prime Minister Narendra Modi in Indore on May 13, 2022.

The Madhya Pradesh Startup Policy and Implementation Scheme, 2022 has been implemented with a view to fulfilling the objectives of Self-Reliant India and Self-Reliant Madhya Pradesh.
It incorporates special financial and non-financial facilities to encourage product-based startups.
Startup India mainly includes achieving 100% growth rate in startups registered and recognized by the Government of India, as well as 200% growth rate in startups registered and accredited with startups registered and recognized in the Government of India in agriculture and food sector.
Under the policy, if a new enterprise is running in a rented accommodation, the state government will give rs 5,000 per month for rent.
The selected startup will be given a monthly salary allowance of Rs 5,000 per employee for a maximum of 25 employees.
The following five pillars have been followed in the policy to achieve the objectives of the policy:
- institutional cooperation, including ease of doing business,
- Encouraging product-based startups,
- promoting innovation and entrepreneurship,
- Marketing Collaboration,
- To provide financial and non-financial assistance.